Twitter Going Public, Reveals $1 Billion IPO Plan

Twitter Inc. on Thursday revealed plans to raise up to $1 billion in a public offering, looking to cash in on a messaging service that has transformed public conversation but is still losing money and facing challenges attracting new users and advertisers.

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Twitter CEO Dick Costolo

Twitter released the filing for its initial public offering on Thursday. The social media company did not specify the amount of shares or price range, but set a maximum amount for the deal at $1 billion. MarketWatch's Dan Gallagher reports. (Photo: Getty Images)

Potential buyers for the first time saw the financials behind one of the most anticipated stock-market debuts of the year, which showed the social network's revenue more than doubled to $254 million in the first six months of this year.

Twitter revealed plans to raise $1 billion in an initial public offering, looking to cash in on a service that has transformed public conversation but is still proving itself as a business. Telis Demos and Michael Chasen, SocialRadar CEO, discuss. Photo: Getty Images.

 

But its net loss grew by 40% to $69 million as the company's expenses ballooned. Twitter's user growth is also slowing, and prices for advertisements, which make up the bulk of the company's revenue, are falling.  Read more